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Marginalia
Code · Minnesota · Chapter 60

60L.10 PROHIBITED INVESTMENTS.

115 words·~1 min read·/mn/chapter-60/60l-10

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60L.10 PROHIBITED INVESTMENTS.
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Subdivision 1. Prohibitions.
An insurer may not invest in investments that are prohibited for an insurer by law. The use of a derivative instrument for any purposes other than hedging, income generation, or replication is prohibited.
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Subd. 2. Disposal of prohibited asset.
A reasonable time, not to exceed five years, must be allowed for disposal of a prohibited investment in hardship cases if the investment is demonstrated by the insurer to have been legal when made, or the result of a mistake made in good faith, or if the commissioner determines that the sale of the asset would be contrary to the interests of insureds, creditors, or the general public.
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